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  1. A constant gain learning framework to understand the behaviour of US inflation and unemployment in the 2nd half of 20th century
    Author: Raamasrinivas, M.Venkata; Srinivasan, Naveen
    Published: June 2020
    Publisher:  Madras School of Economics, Chennai, India

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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    Keine Rechte
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: Working paper / Madras School of Economics ; 194 (2020)
    Subjects: natural rate of unemployment; persistence; stagflation; timeinconsistency; state space; kalman filter; maximum likelihoodestimation; constant gain (CG) learning
    Scope: 1 Online-Ressource (circa 31 Seiten), Illustrationen
  2. Understanding persistence
    Author: Kelly, Morgan
    Published: 2020
    Publisher:  UCD School of Economics, University College Dublin, Dublin

    A large literature on persistence finds that many modern outcomes strongly reflect characteristics of the same places in the distant past. These studies typically combine unusually high t statistics with severe spatial autocorrelation in residuals,... more

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    A large literature on persistence finds that many modern outcomes strongly reflect characteristics of the same places in the distant past. These studies typically combine unusually high t statistics with severe spatial autocorrelation in residuals, suggesting that some findings may be artefacts of underestimating standard errors or of fitting spatial trends. For 25 studies in leading journals, I apply three basic robustness checks against spatial trends and find that effect sizes typically fall by over half, leaving most well known results insignificant at conventional levels. Turning to standard errors, there is currently no data-driven method for selecting an appropriate HAC spatial kernel. The paper proposes a simple procedure where a kernel with a highly flexible functional form is estimated by maximum likelihood. After correction, standard errors tend to rise substantially for cross sectional studies but to fall for panels. Overall, credible identification strategies tend to perform no better than naive regressions. Although the focus here is on historical persistence, the methods apply to regressions using spatial data more generally

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/228203
    Series: Working paper series / UCD Centre for Economic Research ; WP20, 23 (September 2020)
    Subjects: Räumliche Statistik; Regressionsanalyse; Autokorrelation; Streuungsmaß; Nichtparametrische Schätzung; persistence
    Scope: 1 Online-Ressource (circa 52 Seiten), Illustrationen
  3. Enemies of the people
    Author: Toews, Gerhard; Vézina, Pierre-Louis
    Published: December 2020
    Publisher:  CEFIR, Moscow

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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    VS 474
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: NES working paper series ; no. 279
    Subjects: Soviet Union; forced migration; education; persistence; natural experiment
    Scope: 1 Online-Ressource (circa 86 Seiten), Illustrationen
  4. The persistent ownership concentration of private firms
    Author: Bøhren, Øyvind; Iancu, Diana; Radulescu, Georgiana; Strøm, Reidar Øystein
    Published: [2020]
    Publisher:  Centre for Corporate Governance Research, Oslo, Norway

    We find that ownership changes much less over time in private firms than in public firms. The average largest shareholder in private (public) Norwegian firms keeps the same stake in 82% (14%) of two consecutive years. In private firms past ownership... more

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    Helmut-Schmidt-Universität, Universität der Bundeswehr Hamburg, Universitätsbibliothek
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    We find that ownership changes much less over time in private firms than in public firms. The average largest shareholder in private (public) Norwegian firms keeps the same stake in 82% (14%) of two consecutive years. In private firms past ownership dominates ownership determinants proposed in the literature, and the estimated relationship depends heavily on whether the economic model and the econometric technique capture the strong ownership persistence. This evidence suggests that lower share liquidity increases ownership duration, and that feed-back from economic outcomes to ownership structure is a less severe problem for identification when the firm's shares are illiquid

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
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    Series: Working paper / Centre for Corporate Governance Research ; no. 2020, 2
    European Corporate Governance Institute – Finance Working Paper ; No. 668/2020
    Subjects: ownership; concentration; persistence; dynamics; duration; illiquidity; privatefirms; family firms; identification; system GMM; register data
    Scope: 1 Online-Ressource (circa 50 Seiten), Illustrationen